PwC: More tough times ahead for SA mining
Published: Friday, 30 September 2016
For the first time since it began publishing its SA Mine report, the South African mining industry reported an aggregated net loss. Although PwC predicts the bottom of the cycle has been reached, cost pressures and low commodity prices mean a quick recovery is not expected.
Increased cost pressure
and weak commodity prices forced South African mining companies
to cut back on developments and save costs, as 2016 was another
challenging year for the sector.
According to PricewaterhouseCooper’s
(PwC’s) eighth edition of SA Mine, increased costs